Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
@davfor, you're right on the money about MCRDX. The only investment grade FI in the portfolio is that sliver in BBB-, the lowest IG rating. Everything else is below IG, not rated, or cash (12%).
T. Kong's rollout communication emphasized U.S. doll…
Hi Bud, I have two "alt" equity funds, a L/S and a M/N, that have done very well in the few years I've owned them. The M/N fund in particular I've found valuable in "nothing's working" markets; it's got the volatility of bonds, but typically beats g…
ARTKX is close with 30.11% loss, but you already own ARTGX managed by the same managers.
Is ARTKX open again? It's been closed to new investors for years, and M* still shows it that way. Recent announcement?
If I understand correctly, they're closing class D. So it's not about savings, it's about making the funds load only, unless you can afford the institutional class. Is that right?
Yes. The language in Pimco's supplement seems to make that clear. But…
Top Holdings SFHYX
Holding, Weight %
Payb Lord Abbett Fl. - 34.10
Recv Lord Abbett Fl. 34.08
Recv Semper Mbs Total 31.13
Payb Semper Mbs Total - 31.04
Looks to be long and s…
A view of the industry as a whole and the effects of the tariffs here. Note they're certain to be appealed to the WTO, and that China is not the only Asian country involved. The actual manufacture of "Chinese" panels is spread around several differe…
Agreed that it's to each his own, @MikeM. What I object to is the authoritarian in chief telling others what to do in no uncertain terms, when it's clear he doesn't understand anything about them.
One other minor point: category returns aren't espe…
Hey Ted, since you opened the door to cherry-picking data points, how about this one from 2015:
SPX +1.38
QLENX +16.79
The 15%+ difference was a lot of money!
This isn't a bad point for a retail or any other investor to be looking for hedged equ…
The AQR long short equity fund QLEIX looks pretty good but it is closed and just has a 3 year history.
Not that it matters, since it's not available to new investors, but it's been around 4 1/2 years and will hit 5 in July. (Even some L/S funds wi…
I would use Pimco's PMZIX in my own accounts if I felt the need to hold cash-plus - i.e., an emergency fund for large unexpected expense where I'd tolerate small changes in NAV. (Run pretty much absolute-value-ish, 3y SD 1.2, 3y Sort 7.1, negative d…
If I were to invest in commodities, I'd buy DBC ....
This ETF has been on a big upswing since mid-2017, so a purchase today might not be timely. It certainly would not be buying at the bottom. Maybe the momentum will continue.
I have a smidgen of …
I bought DBCMX.
It amazes me how so many people able to buy institutional shares of funds. How???
You can buy any DoubleLine fund's inst shares in an IRA for $5k initial minimum. Since that's Dbl's thing, I'd assume it'd be the same at brokerages -…
It's current; CM reports on full-year 2017 equity results as "last year" in the preamble to the program. She interviews these two guys annually.
These are good sessions - wouldn't miss 'em.
Keep in mind that there are other outlooks for U.S. growth and inflation besides the one expressed in the cet article, e.g., the one from the business cycle pros at ECRI.
A current article from The San Francisco Chronicle: No worries about oil or coal-
"The Trump administration has halted an independent scientific study of offshore oil inspections by the federal safety agency created after the 2010 spill in the Gul…
There's probably a good reason that the current administration has been so involved with Russia and the Ukraine: we needed expertise on conversion of our old liberal democratic political system to the new, improved oligarchical model. Whatever they'…
The EM/EM value message comes thru loud and clear, but there are also Exhibits 3 and 4 and JG's explanation of them, which may point to a lot better near future for EAFE than you'd guess from the 7y outlook.
There should be a Grapes of Wrath ETF. It could own farmland, distressed debt, securities of high brow publishers--same as distressed debt--and short the market.
I like it. My first thought was a Tortilla Flat etf, based on the lifestyle and consum…
This is the off-topic section of the site, where Ted posted early this morning about Josh Brown finally getting around to reading East of Eden. Didn't see anything there about a Steinbeck-inspired etf.
@Bee, then I take it you don't normally read Pension Partners; I'll troll around the place and see what I can find. Seems like investment guys into asset rotation, like PP, have some really good insights at times.
Dash of Insight's a good link fest…
@MikeM, I hear you about the alt categories' shortcomings, but I also think 4+ years is more than a brief moment. They're both closed to new investors now, so aren't that plugged up with assets.
(As usual, I reserve the right to change my mind and…
@catch22 , I agree with you. Not my cup of tea either. I don't see how these funds can do anything but stunt the growth of an already well diversified portfolio. But on the other hand, building a portfolio is a personal thing and if they bring more…
Appears that many of the AQR funds are more suited to a down or bear market function.
Take care,
Catch
@Catch, or a flat market, or just generally going for the worthy objective of good risk-adjusted return. I've held the long-short and market-ne…
Hi @Crash, with rising rates, in general, prices fall and yields increase.
As far as HY goes, an old rule of thumb is buy HY at a spread to Treasuries of around 8 and sell around 4 **. If you look at the last ten years on this FRED chart, 8 was w…
Am I the only reader who could not find much plain English in this interview? .... I've eaten bowls of porridge that were less opaque.
Welcome to the El-Erian world, where thought and communication are mush.
The tsar was overthrown/abdicated in March. As to who's celebrating and who's not, I doubt any Romanov descendants threw wild parties this year.
As to what milennials are thinking about "socialism," the model they have in front of them and are resp…
Well, sort of. The S&P is still above all its simple moving averages; may be testing the 20 today.
It's very probable HY and stx will eventually converge, but the recent equity pattern hasn't broken yet, by any means. While credit and equity r…
What could be more of an outsider to the scientific community than a non-scientist? Put Clovis in a room filled with with scientists and he'll be clearly distinguished, er, distinguishable.
Ah yes, a clear objective, impeccably implemented. Fortun…
